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Warburg Pincus Sells 4.5% of its Equity In Apollo Tyres, Decreases its Holding to Half
Warburg Pincus held 8% stake in the Apollo tyre manufacturing company, as per the data till the end of September.
Key Highlights:
Warburg Pincus Sold 4.5% Apollo Tyres Stake
They have sold 2,85,79,542 shares
Warburg Pincus sold a 4.5% stake in Apollo Tyres for Rs 1,281 crore. They have sold 2,85,79,542 shares through White Iris Investment, at Rs 448.35 as per the block deals data on the BSE. Compared to the last closing price of the stock, this one was sold at a discount of 1%.
On 19th December, the share of Apollo Tyres reached 0.5% higher at Rs 455.35. The sale kept the stock in the green, as many domestic and foreign institutional investors came forward.
The highest buyer, paying Rs 540 crore for 1,20,44,000 shares, or 1.9% of the total, was Nippon India Mutual Fund.
Morgan Stanley Singapore paid Rs 74 crore for 16,40,000 shares, while Societe Generale bought 23,07,700 shares for Rs 103 crore.
Goldman Sachs, Ghisallo Master Fund, Kotak Mahindra AMC, UTI MF, Edelweiss MF, ICICI Prudential MF, Invesco MF, Nippon India MF, and Plutus Wealth Management were among the other purchasers.
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